|
Baker Hughes US rig count down 3 at 584
International rig count for April is down by 8 from March at 891, with land rigs down 4 at 705 and offshore rigs down 4 to 186 Kristen Nelson Petroleum News
Baker Hughes' U.S. rotary drilling rig count was 584 on May 2, down by three from the previous week, down by 21 from 605 a year ago and down by one from two weeks ago. Over the last eight weeks the rig count was up in three weeks, down in four and unchanged in one with a combined loss of 13 against a gain of five.
A drop of 17 to 731 on May 12, 2023, was the steepest weekly drop since June of 2020, during the first year of the COVID-19 pandemic, when the count also dropped by 17 to 284 on June 5, following drops as steep as 73 rigs in one week in April. The count continued down to 251 at the end of July 2020, reaching an all-time low of 244 in mid-August 2020.
For 2024, the count peaked March 1 (and again March 15) at 629, hitting its low point June 28 at 581. In 2023 the count peaked early in the year at 775 on Jan. 13, bottoming out Nov. 10 at 616.
When the count dropped to 244 in mid-August 2020, it was the lowest the domestic rotary rig count had been since the Houston based oilfield services company began issuing weekly U.S. numbers in 1944.
Prior to 2020, the low was 404 rigs in May 2016. The count peaked at 4,530 in 1981.
The count was in the low 790s at the beginning of 2020 prior to the COVID-19 pandemic, where it remained through mid-March of that year when it began to fall, dropping below what had been the historic low in early May with a count of 374 and continuing to drop through the third week of August 2020 when it gained back 10 rigs.
The May 2 count includes 479 rigs targeting oil, down by four from the previous week and down 20 from 499 a year ago, with 101 rigs targeting natural gas, up by two from the previous week and down one from 102 a year ago, and four miscellaneous rigs, down by one from the previous week and up by four from a year ago.
Forty-six of the rigs reported May 2 were drilling directional wells, 523 were drilling horizontal wells and 15 were drilling vertical wells.
Alaska rig count unchanged Louisiana (33) was up three rigs from the previous week, while Ohio (9) and Texas (271) were each down by three.
Rig counts in other states were unchanged from the previous week: Alaska (10), California (6), Colorado (8), New Mexico (100), North Dakota (32), Oklahoma (55), Pennsylvania (18), Utah (11), West Virginia (8) and Wyoming (21).
Baker Hughes shows Alaska with 10 rotary rigs active May 2, unchanged from the previous week and up by one from a year ago when the state's count was nine.
The rig count in the Permian, the most active basin in the country, was down by two from the previous week at 287 and down by 29 from 316 a year ago.
International rig count down by 8 in April Baker Hughes' monthly international rig count for April, issued May 2, is down by eight from March at 891 and down 87 from a count of 978 in April 2024, with land rigs down by four at 705, month over month, and offshore rigs down four at 186.
Baker Hughes began providing a monthly international rig count in 1975. The international count excludes North America, which is included in the company's worldwide figures.
The Middle East accounted for the most rigs in the international totals for April, 335, followed by Asia Pacific with 203, Latin America with 130, Europe with 126 and Africa with 97.
The U.S. rig count averaged 586 in April, down by six from 592 in March, and down 31 from April 2024, while the Canadian count for April averaged 138, down 56 from 194 in March and down eight from April 2024.
Worldwide the rig count averaged 1,616 in April, down 70 from 1,685 in March and down 110 from 1,726 in April 2024.
| 